Bitcoin, Crypto Prices Plummet: Experts Warn of 'Risky Start to December'
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Bitcoin and other cryptocurrencies took a significant hit over the weekend, leaving investors wondering about the cause of the sudden crash. As of Sunday evening, Bitcoin had dropped around 3% in the last hour, while Ethereum fell by over 4.5%. The price fluctuations come as investors and analysts are on high alert, with some warning of a 'risk off' start to December. Cryptocurrency prices are notoriously volatile and can change rapidly due to a range of factors, including regulatory changes, technological advancements, investor sentiment, and global economic conditions. Market experts are closely watching the situation, with many pointing to a lack of 'dip buyers' and meager inflows into Bitcoin exchange-traded funds as key concerns. The coming week will provide critical insights into the US economy, which could influence policymakers' decisions on interest rates through 2026. Meanwhile, President Donald Trump has announced his nominee for the next Federal Reserve chair, a move that could impact monetary policy. As markets adjust to the new developments, Asian stocks have shown caution in early Monday trading, while US equity sentiment remains cautious, with S&P 500 futures experiencing a slight dip. With the situation unfolding, experts are keeping a close eye on key support levels, including $80,000 for Bitcoin.
